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Complaints to proceed against Anglo bosses

Formal complaints against former Anglo Irish Bank chairman Sean FitzPatrick and the bank’s former CEO David Drumm are to go to an accountancy watchdog’s disciplinary committee.

Anglo Irish Bank’s former finance director Willie McAteer and Irish Life & Permanent's former finance director Peter Fitzpatrick also face complaints following an investigation carried out for the Chartered Accountants Regulatory Board by former Comptroller and Auditor General John Purcell.

Mr Purcell investigated the secret borrowings by Sean FitzPatrick and loans given to 10 investors to buy Anglo shares which had been indirectly held by Seán Quinn.